In the first half of 2026, 10.18 million gold jewelry items entered circulation — 11.5% fewer than a year earlier. The number of silver jewelry pieces also declined by 13.5%, reaching 29.3 million items.

One of the main factors was the significant increase in raw material costs. Since July 2025, the official accounting price of gold per gram has risen by 19%, while silver has increased by 45% (according to Central Bank data). Against this backdrop, manufacturers are actively increasing production of hollow jewelry, which is approximately twice as light as traditional pieces.

The average weight of a gold jewelry item placed into circulation fell by 54%, down to just 0.93 grams. Although gold prices have declined compared with the November 2025 peak ($3,900 per ounce), the metal remains expensive.

The number of purchases in jewelry stores from January to June decreased by 13%, while the average transaction value increased by 11%, reaching 13.6 thousand rubles. Consumers are buying jewelry less frequently but are willing to pay more for each individual piece.

Source: Data from the Federal Assay Chamber, the Central Bank, and Platform OFD analytics (based on materials from Izvestia).